UditVani, Jamshedpur : The Sakchi police have arrested Bhushan Singh, Managing Director of MaxizoneTouch Pvt Ltd, and his wife Priyanka Singh, the company’s Director, in connection with a massive investment fraud. The duo was tracked down in Gurgaon and brought to Jamshedpur, where they are currently in police custody.
Investigators said the company duped thousands of investors by promising unusually high interest rates, hefty commissions, and endorsements from Bollywood celebrities. Three years ago, the firm abruptly shut operations and disappeared with investors’ money, leaving behind losses running into crores.
Police estimate that more than 10,000 people had invested their savings in the company. Multiple FIRs were filed across Jamshedpur, but the accused evaded arrest for years before finally being traced to Gurgaon.
Sources confirmed that both Singh and his wife had been living in hiding. After extensive surveillance and investigation, the police succeeded in apprehending them.
They will face charges of fraud and other serious financial offenses under relevant legal sections. Detailed questioning is underway, and authorities are exploring ways to recover investors’ money.
The arrests have brought some relief to victims of the scam, though officials indicated that further investigation and possible action against other associates of the company are still in progress.
